Foundry Park - CoStar HQ

[Hike]

Hopefully it's just a case of conversations within the ranks.

• Did the CEO finally start listening to the employees where he had been pretty adamant about being in the office even during the height of covid.
• Architect Pickard Chilton still has this project prominently located on their website https://www.pickardchilton.com/work/costar-group-corporate-campus
• As recent as May 2022 filings were submitted to the Richmond Urban Design Committee
• I looked at an exchange for the region, password protected that I still have from my previous job, and see no drawings or details for the project that would be used  by subcontractors to review for bidding purposes.
  • Not sure this is negative, likely, the drawings would be coming from a GC and sent direct to subcontractors they work with.
  • Does anyone know who the GC is, if so, that may lead to some more details.

Edited July 23, 2022 by Hike

[eandslee]

11 minutes ago, Hike said:

Hopefully it's just a case of conversations within the ranks.

• Did the CEO finally start listening to the employees where he had been pretty adamant about being in the office even during the height of covid.
• Architect Pickard Chilton still has this project prominently located on their website https://www.pickardchilton.com/work/costar-group-corporate-campus
• As recent as May 2022 filings were submitted to the Richmond Urban Design Committee
• I looked at an exchange for the region, password protected that I still have from my previous job, and see no drawings or details for the project that would be used  by subcontractors to review for bidding purposes.
  • Not sure this is negative, likely, the drawings would be coming from a GC and sent direct to subcontractors they work with.
  • Does anyone know who the GC is, if so, that may lead to some more details.

I think Hourigan is the GC, if I'm not mistaken.

[Hike]

7 minutes ago, eandslee said:

I think Hourigan is the GC, if I'm not mistaken.

I just did a fast search and nothing pops up with them connecting to Costar, doesn’t mean their not involved, it typically means the project is still on the down low with them. Until Dominion broke ground, where Hourigan was the GC, the drawings were on a non-disclosure agreement and only sent to the trades of their choice. It’s close to ground breaking so we should know soon enough.

[wrldcoupe4]

Maybe it already was scaled back?

[Hike]

33 minutes ago, wrldcoupe4 said:

Maybe it already was scaled back?

It may have been, the submission to the Richmond Urban Design Committee was 21 floors, when introduced, wasn’t it for 26 or more? There was this discussion a few pages back about this but it could be the 21 floors is the scaled back.

Edited July 23, 2022 by Hike

[I miss RVA]

57 minutes ago, wrldcoupe4 said:

Maybe it already was scaled back?

Bite your keyboard!! I mean tongue... 

[eandslee]

20 minutes ago, Hike said:

It may have been, the submission to the Richmond Urban Design Committee was 21 floors, when introduced, wasn’t it for 26 or more? There was this discussion a few pages back about this but it could be the 21 floors is the scaled back.

Yep, it was introduced as 26 stories, but I do remember some document we got a hold of (could have been the submission to the Richmond Urban Design Committee) where the floor count was less.  It's somewhere on a previous page.  I grew concerned then, but chocked it up to a fat-finger or a miscalculation of some sort.  Perhaps this project has been scaled back and is not being publicized.  If it's being downsized, then why purchase the office space in Manchester?  Perhaps the answer to that is that it's cheaper than building tall, but CoStar has deep pockets!  Right?...right?!

[I miss RVA]

1 minute ago, eandslee said:

Yep, it was introduced as 26 stories, but I do remember some document we got a hold of (could have been the submission to the Richmond Urban Design Committee) where the floor count was less.  It's somewhere on a previous page.  I grew concerned then, but chocked it up to a fat-finger or a miscalculation of some sort.  Perhaps this project has been scaled back and is not being publicized.  If it's being downsized, then why purchase the office space in Manchester?  Perhaps the answer to that is that it's cheaper than building tall, but CoStar has deep pockets!  Right?...right?!

Didn't we determine that it was always 21 occupied floors, five floors/levels of parking, hense 26 stories?

Jesus - my blood pressure AND anxiety both will be through the roof until this thing breaks ground.

Edited July 23, 2022 by I miss RVA

[eandslee]

Just now, I miss RVA said:

Didn't we determine that it was always 21 occupied floors, five floors/levels of parking, hense 26 stories?

Yeah, that's what we chocked it up to!  Thanks for the reminder...I couldn't remember.  All I know is that the scare then was nothing to be worried about in the end.  Why in the world is it that every time something good is planned in Richmond, something happens that tries to thwart the original plan?  SMH....

[Hike]

4 minutes ago, eandslee said:

Yeah, that's what we chocked it up to!  Thanks for the reminder...I couldn't remember.  All I know is that the scare then was nothing to be worried about in the end.  Why in the world is it that every time something good is planned in Richmond, something happens that tries to thwart the original plan?  SMH....

this is the description page from the submission.

 

[I miss RVA]

8 minutes ago, eandslee said:

Yeah, that's what we chocked it up to!  Thanks for the reminder...I couldn't remember.  All I know is that the scare then was nothing to be worried about in the end.  Why in the world is it that every time something good is planned in Richmond, something happens that tries to thwart the original plan?  SMH....

Because it's Richmond, @eandslee .

This crap doesn't happen in Charlotte, Austin, Atlanta, Nashville, Raleigh, _________________________________ (fill in city of choice).

It happens in Richmond. That's why.

[eandslee]

4 minutes ago, Hike said:

this is the description page from the submission.

 

That's it and, for me, my heart drops when I read it.  

[Hike]

6 minutes ago, eandslee said:

That's it and, for me, my heart drops when I read it.  

The submission is dated 4/14/2022 and the purchase of the Suntrust building in Manchester was early may, it could be they chopped some off and put it over there.

Edited July 23, 2022 by Hike

[eandslee]

4 minutes ago, Hike said:

The submission is dated 4/14/2022 and the purchase of the Suntrust building in Manchester was early may, it could be they chopped some off and put it over there.

This is very possible and now, makes total sense.  Geez....  I thought  that the reason for the  construction of the tower was to put everyone on the same campus.  Well, that's not happening now.  I knew that Manchester office purchase was weird.  Now, I know why...

Edited July 23, 2022 by eandslee

[Hike]

10 minutes ago, eandslee said:

This is very possible and now, makes total sense.  Geez....  I thought  that the reason for the  construction of the tower was to put everyone on the same campus.  Well, that's not happening now.  I knew that Manchester office purchase was weird.  Now, I know why...

It could very likely be that purchasing an existing building now in this expensive construction market, it saved a lot of money plus they may just walk back and forth via the pedestrian bridge or the tpott bridge, for health insurance cost reduction.

 Was somewhat being sarcastic here but I’d like to do that during work, don’t send the email, just print it and walk it .

Edited July 23, 2022 by Hike

[I miss RVA]

31 minutes ago, Hike said:

It could very likely be that purchasing an existing building now in this expensive construction market, it saved a lot of money...

Jesus Christ... CoStar was supposed to be our "ace-in-the-hole" - to get us out of the size doldrums. Deep pockets... huge workforce poised to come here. This was going to elevate things downtown in a very remarkable way.  First 512-Hull gets butchered. Then Block-D's redevelopment is a disasterous joke. And now this. Sorry, but this whole thing simply blows, IMNSHO. 

I'll say it again - this stuff seems to happen here because it's Richmond.

For whatever reason, it doesn't happen in Charlotte, Austin, Atlanta, Nashville, Raleigh, _________________________________ (fill in city of choice).

But it happens in Richmond.

I actually feel physically sick right now thinking about this. 

Edited July 23, 2022 by I miss RVA

[Hike]

Just now, I miss RVA said:

I'll say it again - this stuff seems to happen here because it's Richmond.

For whatever reason, it doesn't happen in Charlotte, Austin, Atlanta, Nashville, Raleigh, _________________________________ (fill in city of choice).

But it happens in Richmond.

I actually feel physically sick right now thinking about this. 

What concerns me is did it get chopped even more? 

[I miss RVA]

4 minutes ago, Hike said:

What concerns me is did it get chopped even more? 

Agreed, @Hike ! That horrifying thought HAS crossed my mind as well.

Edited July 23, 2022 by I miss RVA

[Hike]

Just now, I miss RVA said:

Agreed! That horrifying thought HAS crossed my mind as well.

I still hold a slight hope we’re concerned over nothing and it’ll be as initially introduced, but yeah, was really looking forward to getting over the height hurdle.

[wrldcoupe4]

I imagine it’s 21 floors of office and 5 of parking. I don’t think you all should be panicking. 

[I miss RVA]

2 minutes ago, wrldcoupe4 said:

I imagine it’s 21 floors of office and 5 of parking. I don’t think you all should be panicking. 

From your keyboard to God's eyes, my friend! 

23 minutes ago, Hike said:

I still hold a slight hope we’re concerned over nothing and it’ll be as initially introduced, but yeah, was really looking forward to getting over the height hurdle.

Same here, my friend. I'm hoping and praying it will be constructed as originally introduced last December.

[Hike]

4 minutes ago, I miss RVA said:

From your keyboard to God's eyes, my friend! 

Same here, my friend. I'm hoping and praying it will be constructed as originally introduced last December.

Looking at the elevation more closely, this is a tricky building, it’s like a deck of cards, where some portions are higher than other, there are side by side vertical office spaces then what looks to be 21 floors on the parking, so it may be we’re good here, at least for the night. 

[wrldcoupe4]

What I meant by my earlier comment was that perhaps they originally planned something even larger but opted for the the 26-story tower ultimately given the pandemic. 

[Hike]

4 minutes ago, wrldcoupe4 said:

What I meant by my earlier comment was that perhaps they originally planned something even larger but opted for the the 26-story tower ultimately given the pandemic. 

I like this theory better!

[I miss RVA]

12 minutes ago, wrldcoupe4 said:

What I meant by my earlier comment was that perhaps they originally planned something even larger but opted for the the 26-story tower ultimately given the pandemic. 

If memory serves, there are a couple of folks on the forums here who are friends with CoStar insiders who have said exactly that - were it not for the pandemic, CoStar actually WAS actively planning a larger/taller tower but settled for the 26-story model they unveiled in December.